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Three projects all have PPAs with corporate off takers and are due online in 2025
European Energy has divested three solar projects in the UK with a combined capacity of over 115MW.
The sales, to an undisclosed buyer, concerns the Marksbury Plain (pictured), Kincraig and Vicarage Drove solar projects.
The Marksbury Plain project is located near Bath, Somerset and is set to deliver solar power to Asahi Europe & International for the production of Asahi drinks in the UK, with the company having signed a multi-year virtual power purchase agreement (PPA) to offtake power from the facility.
The Kincraig project, located south of Ellon in Aberdeenshire, Scotland, and the Vicarage Drove project, located close to Bicker in Lincolnshire, have also signed multi-year PPAs with a global corporate offtaker.
The solar farms, when operational, are expected to have a combined annual output of more than 120 GWh.
All three parks are at various stages of construction and are scheduled to be grid-connected during Q1 and Q2 of 2025.
“The significant value created across these three exemplar projects is testament to European Energy’s business model of involvement at all stages of the project lifecycle.
“I am proud of the team we have built that is now able to manage the construction of multiple solar farms concurrently across the length of the UK and contribute to the green transition,” said Adam Spearey, UK development director for European Energy.
“The United Kingdom has, in the span of a few short years, evolved into a core market for European Energy.
“We have committed to funding the development of a large pipeline of UK-based solar, wind and energy storage projects and have already taken Investment Decision on the next tranche of construction projects, due to break ground in 2025,” said Jens-Peter Zink, deputy CEO of European Energy. |
